CategoryTaxes

UPDATE – In the Omnibus appropriations bill of 2015, Congress made this provision permanent and retroactive to the beginning of 2015. I’m writing this post because in my nine years of being in the startup world, I have never met an entrepreneur who had ever heard of section 1202 or section 1045 (upcoming post). The topic hardly ever comes up in conversation, and when it does I just...

A few years ago, in order to encourage investment in Puerto Rico, the legislative assembly passed Act 20 and Act 22. Act 20 provides tax benefits for founding a Puerto Rico company, Act 22 offers tax benefits for entrepreneurs and investors willing to move to Puerto Rico. This post will cover the details of Act 22. First, a few disclaimers: I am not a lawyer or an accountant, and while I have no...